Westfield Group Ltd WDC.AX, the world's top mall owner by market value, will not start work on any mall projects this year, it said on Thursday, saving up to A$2 billion ($1.3 billion), as capital markets remain shaky.

The sale of the art collection of the late fashion designer Yves Saint Laurent defied the financial crisis Monday, breaking world records by raising over 206 million euros ($262 million) on its opening day.

British discount fashion retailer Primark reported strong sales growth on Monday boosting the shares of its owner Associated British Foods Plc and helping to offset a warning of slightly lower group profits.

Italian fashion designer label Gianfranco Ferre is continuing business and plans to open franchises despite being put into special administration along with its owner this week, CEO Michela Piva said on Friday.

Upscale retailer Saks Inc posted a much deeper-than-expected quarterly loss on Wednesday as its customers headed to sales racks or just cut spending outright in the worst holiday season in nearly 40 years.

U.S. luxury retailer Fortunoff Holdings LLC could begin liquidating as early as Wednesday, after a group of six liquidators won a bankruptcy auction for the company on Monday, according to one of the liquidators.

Peter Davies, the former chief executive of Principles, has submitted a bid for the British women's fashion brand, he said on Friday. Principles' owner, Mosaic Fashions, said earlier this month it had received expressions of interest in the brand.